Word: foundered
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Dates: during 1980-1989
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...interest federal loans so that cities, which find interest rates too high to float municipal bonds, can rebuild bridges, sewers, firehouses, schools and deteriorating mass-transit systems. Such a revolving fund, he said, should "selfdestruct in ten years" as revitalized cities repay the loans. The Rev. Jesse Jackson, founder of Chicago's self-help Operation PUSH, charged that before Reagan, federal programs for the cities were "humane, sensible, broadly based," while under Reagan they are "anti-poor, anti-worker, antiblack, part of a meanness mania against the masses...
...HSSR founder Robert Sorscher '83 said the group will not take sides on the issue of arms production or deployment but will try to help people express their views to their congressmen, regardless of their position...
Festival President James W. McLamore, founder of Burger King, cast his ambitions even beyond the U.S., predicting that the three weeks of music, dance, drama and film would constitute a "worldclass event of world-class quality, with elements so rich and varied that it would have international appeal." State and local governments chipped in half of the $4.8 million budget, and new works were commissioned from a dozen or so major playwrights, composers and choreographers, including Tennessee Williams, Edward Albee, Lanford Wilson, Gian Carlo Menotti, Lukas Foss, Ned Rorem and Geoffrey Holder. To give the festival a festive look...
...contact data banks like Dow Jones from telephones anywhere. If brokerage houses and banking chains will cooperate, and if the Government will change its regulations, such machines could be used to move money from one account to another or order securities without going through brokers or tellers. Predicts Atari Founder Nolan Bushnell: "People will not pay bills by check within five years...
DIED. Robert Gottschalk, 64, founder-president of Panavision, Inc., who invented light, noiseless, hand-held cameras and lenses that won him an Academy Award and made "Camera by Panavision" one of the screen's most familiar credits; of stab wounds; in Los Angeles. Police arrested a male houseguest with whom, they say, he had had a "falling...